Topic: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! (Read 29498 times)

Yeah no problem. What are you trying to mine with? Maybe I can help you set it up all up. I know how confusing it all was when I first started

Thanks for the info sandpaper... Gained some knowledge from you... Now i have to research about how to mine...!!! 

This is probably off-topic for this thread, but I will see if I can explain a little bit in detail what these terms mean.

Mining is simply turning your electricity into cryptocurrencies (litecoin, bitcoin, hobonickels, dreamcoin, etc etc). This is done with computations being performed by your GPU / FPGA / CPU / ASIC device. Generally speaking it goes in this order of power. Lowest to highest. CPU / GPU / FPGA / ASIC.

Now the speed at which you mine different algorithms is based upon the hardware used. Now when your device "solves" the computation the fastest you will have "mined" a block. A block is how many of a specific cryptocurrency will be awarded to you for mining that block. Bitcoin is 25 per solved block as an example. Difficulty must also be taken into account, which I am not very good at explaining. The higher it goes, the harder it is to find a block and thus you would need more hashing power to find a block. This is where pools come in.

A pool is a group of miners (you, me, anyone mining) that direct their hashing power to generally speaking, a website. This site will then direct your hashing power to whatever coin it is mining and it would be as if you were mining with the total amount rather then simply your own. This increases your chance at finding a block. Now when a block is found the difference in a pool is that your total hashrate is your % of the block reward. So you have 1000 KH and the pool has 5000 KH and finds a block. You would get 20% of that reward being that you had 1000/5000 of the total hashing rate.

A Gigabyte R9 270x 2gb GPU will get around 485 KH/s running on scrypt. This same device will yield around 2.9x that rate on the algorithm x11. So different algorithms give different hash rates, but you must take into account electricity costs / hardware costs / fees from pools which I will go into in a moment / to be able to determine your profitability.
 
Hope this helps you out.

Hi,

Help needed. I am a newbie here.

I have come across terms like "mining", "pool", etc...  I don't know what these are, and in what way they are benefit for us? 

Can someone explain or provide a link which has information about that...?

Thanks for your valuable time. 

Well with those addnodes it connected ASAP!

vertcoind getaccountaddress ""       

but why should one get banned? these are cloud compute providers and we are .. well ..  cloud computing right? ..

I guess it is a trade-off .. I'm hardly using storage space and network bandwidth .. but yeah, CPU wear n tear may happen

in fact, i did notice my cpu % go down from 450% to < 200% in about 2-3 weeks of mining ..

Interesting. The guide here was nice. I just always assumed it'd be a swift ban and you were pretty much racing the clocks, lol.

in fact no ... i clearly mentioned while signing up at DigitalOcean what my purpose was .. apparently, they are okay with it.

I use Linode as I get a 8 core CPU on Linode as opposed to just a 2-core with DO... have got banned by Linode once for mining on their Test Drive  ... then i signed up with them eventually.

Both cost the same .. so for this purpose, I feel Linode is better

Does DigitalOcean not ban VPS's for doing this when you're revving up their CPUs?

Hi experts / mods .. newbie here.. would appreciate your help

I have just started mining for VTC a day ago ..

I used vertcoind getaccountaddress "" yesterday .. and I got an address.. I used this address to receive a payout.
In my console currently, when I am "watching" the blocks ... I can see the transferred VTC in my balance.

no problem so far...


now here is the weird part ...

I just tried vertcoind getaccountaddress "" now.. but I see a different wallet address being displayed.

I thought I would see my same ol wallet address.. but no! ..

Is this the expected behavior? What wallet address should I use to link to a diff pool now - the old one or the new one that I am seeing?


hope i clearly explained my problem...
thanks in advance for your help

so i am not sure how efficient is CPU mining now and if it will in the near future.

Is there interest for pool mining guide?

Just trying to set this up as a test run, but I'm getting an error on the makefile.unix step...


Seems to be when compiling init.o and init.cpp files.

Any ideas?


Looks like it's most likely an issue with system ram on the instance I'm running.

https://bitcointalksearch.org/topic/solved-g-internal-compiler-error-killed-program-cc1plus-304389

You create more droplets and do the same...

Or you can make an image of your first droplet and make the others from the image of your first...but i always just make more droplets and follow the guide...

Hi how do you run multiple droplets and have them mining, bit of a newbie to this thanks!

Thank you.

Yeah actually that's what I would like to know, how to use Digital Ocean to mine through the pool.
It would be really nice of you to make a guide for that too!

it say here what to do https://vtc.pool.pm/index.php?page=gettingstarted

probably i will make a guide for DO also. But i think that solo is still better..

Run the miner software they are going to provide you with.

Now that a pool is ready to be started (https://vtc.pool.pm/), what am I supposed to do to mine there once its on?